Jamie Dimon’s cancer disclosure is the right approach to serious illness

J.P Morgan Chase & Co.’s
/quotes/zigman/272085/delayed/quotes/nls/jpmJPM chairman and CEO, Jamie Dimon, made the right decision when he disclosed Tuesday that he has been diagnosed with throat cancer, according to public-relations experts.

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Jamie Dimon.

The 58-year-old CEO ticked all the boxes in a short statement, by immediately disclosing the ailment, providing information on the prognosis and outlining what the treatment will look like, the P.R. practitioners said.

“The good news is that the prognosis from my doctors is excellent, the cancer was caught quickly, and my condition is curable,” Dimon wrote.

“When you are diagnosed with a serious illness, it is imperative you are open and honest,” said Michael Roth, P.R. specialist at Bliss Integrated Communication in New York.

Dimon provided the right amount of detail on his illness, saying that the cancer is confined to the original site and the adjacent lymph nodes on the right side of his neck. And, importantly, he wrote that no evidence of cancer has been located “elsewhere in my body.”

“In this case, and situations like it, an all-transparent communication is the right way to go, and it should be done quickly,” said Alex Stanton, CEO of Stanton Public Relations & Marketing.

““This is a case where everyone cares, and it’s probably not a wise course to tell some people and not others.”

Bloomberg

Warren Buffett.

Dimon is not the first well-known executive to fall ill on the job. Others have been less forthcoming about their health, with mixed results.

The insurance executive never specified what form of cancer he had, sparking a discussion about succession planning and contingency plans if he had to stop working during treatment. The news cameat a time of major restructuring within the company. Very little disclosure followed the initial announcement.

The public expects to be informed, said the P.R. experts.

“What you want to avoid is a rumor going around,” said Stanton. Failure to provide prompt disclosure can encourage gossip and create a P.R. headache for a company, he said.

Benmosche reportedly underwent aggressive chemotherapy and said he was ”absolutely committed” to continuing to run AIG, which had almost collapsed during the financial crisis. He went on to helm the company for four more years, announcing his replacement this year.

Jobs announced he had cancer in 2004 and at one point declared he was cured after surgery. But five years later, he looked gaunt in public appearances. It was later disclosed that he had had a liver transplant. He eventually stepped down in August 2011 after taking a third leave from work, and died two months later at the age of 56.

In a letter to shareholders, Buffett wrote: “The good news is that I’ve been told by my doctors that my condition is not remotely life-threatening or even debilitating in any meaningful way.”

Buffett went on to call it a nonevent, even joking that he plans to become the world’s oldest man. The 83-year-old today appears to have no plan to slow down and has not yet named a successor as CEO to the company he has headed since 1970, although he did say his son Howard is his choice to be the next Berkshire Hathaway chairman.

Page initially said he had “lost his voice” and assured investors he would continue to run the company. But after mystery hung over his condition for nearly a year, the Google CEO came clean with the public.

“At the end of the day, the company and board [are] accountable for the approach that is taken,” said Stanton.

What does Dimon need to do next in terms of disclosure and updates?

The best move is to continue to do his work and remain somewhat visible, given the nature of the treatment, said the experts. There is no reason the company needs to address it again.

“The fact that they were very clear in their disclosure means there is no need for updates, unless there is some significant change in his health or the prospects for his recovery,” said Stanton.

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